Global Carbon Fiber Market
Marktgröße in Milliarden USD
CAGR :
% 
 Prognosezeitraum |
2024 –2031 |
 Marktgröße (Basisjahr) | USD 4.93 Billion |
 Marktgröße (Prognosejahr) | USD 10.12 Billion |
 CAGR |
% |
| Wichtige Marktteilnehmer |
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Global Carbon Fiber Market Segmentation, By Type (Continuous, Long, and Short), Fiber Type (Virgin, and Recycled), Application (Composite, Textiles, Flexible Heating, and Microelectrodes), Raw Material (Polyacrylonitrile (PAN), Pitch, Rayon, and Gas Phase Grown), Modulus (Standard, Intermediate, and High), End User (Aerospace and Defense, Sports/Leisure, Wind Turbines, Molding and Compounds, Automotive, Pressure Vessels, Civil Engineering, Marine, Pultrusion Misc., Medical Sector, Sailing/Yacht Building, and Others) – Industry Trends and Forecast to 2031
Carbon Fiber Market Analysis
The carbon fiber market is experiencing strong growth, driven by rising demand across industries such as aerospace, automotive, and renewable energy. Carbon fiber's lightweight, high-strength properties make it ideal for applications requiring durability and reduced weight, particularly in fuel-efficient vehicles and wind turbines. The market's expansion is further supported by the increasing adoption of carbon fiber in sports equipment, marine, and construction sectors. Recent developments include advancements in manufacturing technologies, such as lower-cost production methods and recycling techniques, making carbon fiber more accessible. Companies are investing in innovations to improve the material's performance and sustainability. North America and Europe dominate the market, but Asia-Pacific is emerging as a key growth region due to rising industrial activities. Overall, the carbon fiber market is expected to see steady growth, with ongoing technological advancements and wider adoption across diverse sectors contributing to its future expansion.
Carbon Fiber Market Size
The global carbon fiber market size was valued at USD 4.93 billion in 2023 and is projected to reach USD 10.12 billion by 2031, with a CAGR of 9.40% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Carbon Fiber Market Trends
“Enhancing Efficiency And Reducing Costs”
The carbon fiber market is experiencing significant growth driven by its lightweight, high-strength properties, making it ideal for aerospace, automotive, and sports equipment applications. Innovations in production processes, such as automated fiber placement and recycling technologies, are enhancing efficiency and reducing costs. One prominent trend is the increasing use of carbon fiber in electric vehicles (EVs), where weight reduction plays a critical role in extending battery range. As manufacturers seek sustainable materials, the focus on bio-based carbon fibers is also gaining traction. Overall, the carbon fiber market is poised for robust expansion, propelled by advancements in technology and rising demand for high-performance materials across various industries.
Report Scope and Carbon Fiber Market Segmentation
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Attributes |
Carbon Fiber Key Market Insights |
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Segments Covered |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
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Key Market Players |
Evonik Industries (Germany), TEIJIN LIMITED (Japan), SGL Carbon (Germany), dsm-firmenich (Netherlands), SABIC (Saudi Arabia), Hexcel Corporation (U.S.), TORAY INDUSTRIES, INC. (Japan), 3M (U.S.), BASF (Germany), Covestro AG (Germany), Dow (U.S.), Zoltek Corporation / Toray Group (U.S.), Celanese Corporation (U.S.), Formosa Plastics Corporation, U.S.A. (Taiwan), Nippon Graphite Fiber Co., Ltd. (Japan), HS HYOSUNG ADVANCED MATERIALS (South Korea) |
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Market Opportunities |
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Value Added Data Infosets |
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework. |
Carbon Fiber Market Definition
Carbon fiber is a lightweight, high-strength material made from carbon atoms that are bonded together in a crystalline structure. It is characterized by its exceptional tensile strength and rigidity, making it ideal for applications requiring both durability and reduced weight. Typically produced through a process that involves heating and stretching polyacrylonitrile (PAN) or pitch, carbon fibers can be woven into fabrics or combined with resins to create composite materials.
Carbon Fiber Market Dynamics
Drivers
- Increasing Demand for Lightweight Materials
Industries like aerospace and automotive are increasingly prioritizing the use of lightweight materials such as carbon fiber due to their significant benefits in enhancing fuel efficiency and reducing emissions. In the aerospace sector, where weight reduction is critical for performance and operational cost savings, carbon fiber is widely used in aircraft components, leading to lower fuel consumption and greenhouse gas emissions. Similarly, in the automotive industry, the transition to electric vehicles (EVs) necessitates lightweighting to improve battery range and overall efficiency. As manufacturers seek to meet stringent environmental regulations and consumer demand for greener alternatives, the adoption of carbon fiber is becoming a key strategy. This growing emphasis on lightweight materials in these sectors serves as a substantial driver for the carbon fiber market.
- Rising Adoption in Aerospace Applications
Carbon fiber is extensively utilized in aircraft components due to its remarkable strength-to-weight ratio, which is essential for achieving optimal performance in aviation. Aircraft structures, including wings, fuselage, and tail sections, require materials that can withstand high stress while minimizing weight to enhance fuel efficiency and overall flight performance. The lightweight nature of carbon fiber helps reduce the overall weight of aircraft, leading to lower fuel consumption and decreased operational costs. As the aerospace industry continues to focus on sustainability and fuel efficiency amid rising environmental concerns, the demand for advanced materials like carbon fiber is surging. Consequently, this growing reliance on carbon fiber in aircraft manufacturing acts as a significant driver for the carbon fiber market, fueling its expansion in the aerospace sector.
Opportunities
- Emerging Applications in Electric Vehicles (EVs)
The rapidly expanding electric vehicle (EV) market offers substantial opportunities for the utilization of carbon fiber in manufacturing lightweight components, which play a critical role in enhancing battery efficiency and overall vehicle performance. As EV manufacturers strive to maximize range and minimize energy consumption, the integration of carbon fiber into structural elements, such as chassis and body panels, becomes increasingly valuable. The lightweight properties of carbon fiber reduce the overall weight of vehicles, allowing for improved acceleration and handling while extending battery life. Additionally, as automakers seek to meet stringent emissions regulations and consumer demand for sustainable options, the adoption of advanced materials like carbon fiber is set to rise. This trend presents a significant growth opportunity for the carbon fiber market, particularly in the automotive sector focused on electrification.
- Advancements in Recycling Technologies
The development of efficient recycling methods for carbon fiber composites presents a transformative opportunity for sustainable production within the industry. As environmental concerns grow, the ability to recycle carbon fiber reduces waste and conserves valuable resources, making it a more attractive option for manufacturers. Innovative recycling techniques can reclaim high-quality carbon fibers from discarded composites, allowing these materials to be reintroduced into production cycles at a lower cost. This not only enhances the sustainability profile of carbon fiber but also addresses the rising demand for eco-friendly manufacturing practices. By lowering material costs and minimizing environmental impact, effective recycling initiatives can attract more manufacturers to the carbon fiber market, fostering growth and expanding applications across various sectors, including automotive, aerospace, and construction.
Restraints/Challenges
- High Production Costs
The manufacturing process of carbon fiber is characterized by significant expenses stemming from the high cost of raw materials, such as polyacrylonitrile (PAN), and the energy-intensive production methods required. These factors contribute to the overall production costs, making carbon fiber a premium material compared to alternatives. As a result, smaller manufacturers often face challenges in accessing the market due to limited financial resources, which can restrict their ability to invest in the necessary technology and equipment for carbon fiber production. This high cost barrier hinders broader market adoption and limits innovation within the industry. Consequently, without effective strategies to reduce production costs, the growth potential of the carbon fiber market may be constrained, particularly among emerging manufacturers seeking to enter this competitive field.
- Limited Availability of Raw Materials
The supply chain for essential raw materials like polyacrylonitrile (PAN) and pitch is often characterized by volatility and constraints, posing significant challenges for the carbon fiber market. Fluctuations in the availability of these materials can disrupt production schedules, leading to inconsistent supply and potentially driving up costs. Such instability affects manufacturers and hampers their ability to meet market demand reliably. As prices for these key inputs rise due to supply chain disruptions, the overall cost of carbon fiber products can increase, making them less competitive against alternative materials. This volatility creates a level of uncertainty that can deter investment and innovation in the sector, ultimately restraining the growth and expansion of the carbon fiber market.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Carbon Fiber Market Scope
The market is segmented on the basis of type, fiber type, application, raw material, modulus, and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Continuous
- Long
- Short
Fiber Type
- Virgin
- Recycled
Application
- Composite
- Textiles
- Flexible Heating
- Microelectrodes
Raw Material
- Polyacrylonitrile (PAN)
- Pitch
- Rayon
- Gas Phase Grown
Modulus
- Standard
- Intermediate
- High
End User
- Aerospace and Defense
- Sports/Leisure
- Wind Turbines
- Molding and Compounds
- Automotive
- Pressure Vessels
- Civil Engineering
- Marine
- Pultrusion Misc.
- Medical Sector
- Sailing/Yacht Building
- Others
Carbon Fiber Market Regional Analysis
The market is analysed and market size insights and trends are provided by type, fiber type, application, raw material, modulus, and end user, as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe is projected to lead the carbon fiber market, driven by significant revenue growth and market share. This dominance is attributed to the region's strong presence of major aircraft manufacturers and the increasing use of carbon fibers in electric vehicles. Additionally, the concentration of key market players further bolsters Europe's position in the carbon fiber industry.
North America is anticipated to experience the fastest growth during the forecast period from 2024 to 2031. This rapid development is largely driven by the expansion of various end-user industries in countries like China and India. As these nations continue to progress, North America stands to benefit significantly from increased demand for carbon fiber applications across multiple sectors.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Carbon Fiber Market Share
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Carbon Fiber Market Leaders Operating in the Market Are:
- Evonik Industries (Germany)
- TEIJIN LIMITED (Japan)
- SGL Carbon (Germany)
- dsm-firmenich (Netherlands)
- SABIC (Saudi Arabia)
- Hexcel Corporation (U.S.)
- TORAY INDUSTRIES, INC. (Japan)
- 3M (U.S.)
- BASF (Germany)
- Covestro AG (Germany)
- Dow (U.S.)
- Zoltek Corporation / Toray Group (U.S.)
- Celanese Corporation (U.S.)
- Formosa Plastics Corporation, U.S.A. (Taiwan)
- Nippon Graphite Fiber Co., Ltd. (Japan)
- HS HYOSUNG ADVANCED MATERIALS (South Korea)
Latest Developments in Carbon Fiber Market
- In December 2022, Solvay announced a partnership with Trillium to develop bio-based acrylonitrile aimed at producing carbon fiber. This collaboration targets applications in automotive, aerospace, consumer goods, and energy sectors. By focusing on sustainable materials, Solvay and Trillium seek to enhance the environmental profile of carbon fiber production
- In September 2022, Solvay introduced LTM 350, an advanced epoxy prepreg carbon fiber tooling material. This innovative product is designed to provide substantial cost and time efficiencies for various sectors, including aerospace, industrial, automotive, and racing markets. By enhancing manufacturing processes, LTM 350 aims to meet the growing demands of these industries while optimizing performance and reducing expenses
- In 2022, Hexcel entered into a contract with Dassault Aviation to supply carbon fiber prepreg for the Falcon 10X program. This marks Dassault's first business jet initiative to incorporate advanced carbon fiber composites in the manufacturing of aircraft wings. This collaboration highlights a significant step forward in the use of innovative materials in the aviation industry, enhancing performance and efficiency
- In July 2021, Toray Industries Inc. finalized its acquisition of TenCate Advanced Composites Holding BV, a Dutch manufacturer and distributor of carbon fiber composite materials. The deal, valued at €930 million (approximately USD 1 billion), included net debt and was agreed upon with TenCate's parent company, Koninklijke Ten Cate BV. This acquisition enhances Toray's product offerings, allowing the company to expand its portfolio to include a broader range of polymer technologies and carbon fiber solutions
- In February 2021, Teijin Limited introduced its Tenax BM (beam series) and Tenax PW (power series) brands of carbon fiber intermediate materials specifically designed for sports applications. This new launch aims to enhance performance by maximizing power and speed, thanks to the materials' outstanding durability and toughness. With these innovative products, Teijin reinforces its commitment to providing high-performance solutions for the sports industry
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